Price T Rowe Associates Inc. MD Acquires 3,990 Shares of Brown & Brown, Inc. (NYSE:BRO)

Price T Rowe Associates Inc. MD boosted its holdings in Brown & Brown, Inc. (NYSE:BRO - Free Report) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 685,257 shares of the financial services provider's stock after purchasing an additional 3,990 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.24% of Brown & Brown worth $69,911,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hsbc Holdings PLC boosted its stake in Brown & Brown by 5.9% in the 4th quarter. Hsbc Holdings PLC now owns 552,320 shares of the financial services provider's stock worth $56,327,000 after purchasing an additional 30,944 shares in the last quarter. Stifel Financial Corp lifted its stake in shares of Brown & Brown by 1.5% in the fourth quarter. Stifel Financial Corp now owns 373,017 shares of the financial services provider's stock worth $38,058,000 after buying an additional 5,677 shares in the last quarter. State of Tennessee Department of Treasury grew its holdings in shares of Brown & Brown by 30.8% during the fourth quarter. State of Tennessee Department of Treasury now owns 112,493 shares of the financial services provider's stock valued at $11,477,000 after buying an additional 26,520 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Brown & Brown by 119.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 16,670 shares of the financial services provider's stock valued at $1,701,000 after acquiring an additional 9,086 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its holdings in Brown & Brown by 3.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,611,286 shares of the financial services provider's stock worth $164,383,000 after acquiring an additional 46,912 shares during the last quarter. Institutional investors own 71.01% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on BRO shares. Wells Fargo & Company increased their target price on Brown & Brown from $115.00 to $125.00 and gave the company an "overweight" rating in a research note on Wednesday, January 29th. Truist Financial reduced their price objective on Brown & Brown from $138.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday. Edward Jones initiated coverage on shares of Brown & Brown in a research note on Wednesday, April 16th. They set a "buy" rating on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Brown & Brown from $97.00 to $102.00 and gave the stock an "underperform" rating in a research note on Wednesday, April 9th. Finally, Morgan Stanley reissued an "equal weight" rating and set a $128.00 price objective on shares of Brown & Brown in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $116.83.

Brown & Brown Stock Performance

NYSE:BRO traded up $1.58 during mid-day trading on Friday, hitting $110.60. 1,616,046 shares of the company traded hands, compared to its average volume of 1,461,844. The stock's fifty day moving average price is $117.83 and its 200-day moving average price is $110.66. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.56. Brown & Brown, Inc. has a one year low of $81.79 and a one year high of $125.68. The firm has a market cap of $31.70 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 2.93 and a beta of 0.75.

Brown & Brown (NYSE:BRO - Get Free Report) last released its earnings results on Monday, April 28th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Brown & Brown had a return on equity of 17.81% and a net margin of 20.68%. The firm had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the prior year, the company posted $1.14 earnings per share. The company's revenue was up 11.6% compared to the same quarter last year. Research analysts anticipate that Brown & Brown, Inc. will post 4.18 earnings per share for the current fiscal year.

Brown & Brown Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Monday, May 12th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, May 12th. Brown & Brown's dividend payout ratio (DPR) is 16.71%.

Brown & Brown Profile

Brown & Brown, Inc is an insurance agency, wholesale brokerage, insurance program and service organization. It engages in the provision of insurance brokerage services and casualty insurance underwriting services. It operates through the following segments: Retail, National Programs, Wholesale Brokerage, and Services.